President Muhammadu Buhari on Tuesday sought the
approval of the Senate for a $200m (N39.4bn) World
Bank loan for Lagos State.
Buhari, in a letter addressed to the Senate President,
Bukola Saraki, and read on the floor of the upper
legislative chamber, explained that the loan was the
third tranche of a development policy operation loan
for Lagos State.
The President wrote, “You may wish to know that the
World Bank approved a development policy operation
loan (budget support) for a total sum of $600m to the
Lagos State Government in 2010.
“The loan is to be implemented in three tranches of
$200m per annum. The first tranche was approved by
the National Assembly in 2010-2012 Federal
Government’s external borrowing plan and the third
tranche was in the 2012-2014 plan.”
Buhari added that the DPO-1 had been successfully
implemented by the state in 2014 as adjudged by the
World Bank, whose Board of Executive Directors
approved the second tranche.
He said that the DPO III was captured in the Federal
Government’s external borrowing plan of 2014-2016 but
had yet to be concluded by the Senate.
The President expressed the hope that the Senate
would treat the matter expeditiously to enable the
state to consolidate on the gains of the second tranche
of the facility.
“It is instructive to note that the key programme
objectives of the DPO are already beginning to show in
terms of increased inflows of private investment to the
state, increased private sector employment
opportunities and increased Internally Generated
Revenues,” he stated.
Also on Tuesday, the Senate received a letter from
Buhari seeking the confirmation of the appointment of
Prof. Umaru Danbatta as the Executive Vice-Chairman
of the Nigerian Communications Commission.
He said the appointment would be for a first term of
five years.
Buhari, in another letter, sought the confirmation of
the appointment of Dr. Babatunde Fowler as the
Executive Chairman of the Federal Inland Revenue
Board for a four-year term.
The President, in another communication to the
Senate, sought the confirmation of the appointment of
a managing director and three executive directors for
the Asset Management Corporation of Nigeria.
The nominees are Ahmed Kuru as managing director as
well as Kola Ayeye, Eberechukwu Uneze and Aminu
Ismail as executive directors.
approval of the Senate for a $200m (N39.4bn) World
Bank loan for Lagos State.
Buhari, in a letter addressed to the Senate President,
Bukola Saraki, and read on the floor of the upper
legislative chamber, explained that the loan was the
third tranche of a development policy operation loan
for Lagos State.
The President wrote, “You may wish to know that the
World Bank approved a development policy operation
loan (budget support) for a total sum of $600m to the
Lagos State Government in 2010.
“The loan is to be implemented in three tranches of
$200m per annum. The first tranche was approved by
the National Assembly in 2010-2012 Federal
Government’s external borrowing plan and the third
tranche was in the 2012-2014 plan.”
Buhari added that the DPO-1 had been successfully
implemented by the state in 2014 as adjudged by the
World Bank, whose Board of Executive Directors
approved the second tranche.
He said that the DPO III was captured in the Federal
Government’s external borrowing plan of 2014-2016 but
had yet to be concluded by the Senate.
The President expressed the hope that the Senate
would treat the matter expeditiously to enable the
state to consolidate on the gains of the second tranche
of the facility.
“It is instructive to note that the key programme
objectives of the DPO are already beginning to show in
terms of increased inflows of private investment to the
state, increased private sector employment
opportunities and increased Internally Generated
Revenues,” he stated.
Also on Tuesday, the Senate received a letter from
Buhari seeking the confirmation of the appointment of
Prof. Umaru Danbatta as the Executive Vice-Chairman
of the Nigerian Communications Commission.
He said the appointment would be for a first term of
five years.
Buhari, in another letter, sought the confirmation of
the appointment of Dr. Babatunde Fowler as the
Executive Chairman of the Federal Inland Revenue
Board for a four-year term.
The President, in another communication to the
Senate, sought the confirmation of the appointment of
a managing director and three executive directors for
the Asset Management Corporation of Nigeria.
The nominees are Ahmed Kuru as managing director as
well as Kola Ayeye, Eberechukwu Uneze and Aminu
Ismail as executive directors.
posted from Bloggeroid
Comments
Post a Comment
click to comment